HUD Preservation

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HUD oversees more than 22,000 privately owned multifamily properties,
and more than 1.4 million assisted housing units. These homes were
originally financed with FHA-insured or Direct Loans and many are
supported with Section 8 or other rental assistance contracts. The
existing stock of affordable rental housing is a critical resource for
seniors and families who otherwise would not have access to safe, decent
places to call home.

HUD is actively working with their industry partners to preserve the
affordability and long-term viability of multifamily housing. Many HUD
properties were financed 30 to 40 years ago. Housing subsidy contracts
are expiring on thousands of privately owned multifamily properties with
federally insured mortgages. Many of these contracts set rents at
amounts higher than those of the local market. As these subsidy
contracts expire, the Mark-to-Market program will reduce rents to market
levels and will restructure existing debt to levels supportable by these
rents.

What is the status of your project?

Do you have a Rent Supplement or RAP Contract?

Do you have a Section 8 Contract?

Is your Contract due for an annual rent adjustment renewal?

Do you intend to continue to participate in HUD subsidized programs?

Do you need assistance to navigating HUD Preservation Programs?

What questions do you need answered during your due diligences
assessment to determine whether to take advantage of HUD
Preservation Programs?